Azonto Petrol. Share Discussion Threads

[agbad] 04/2/2014 16:30

Hopefully things looking up. Maybe news just round the corner re gas sales agreement. Markets been taking a battering recently. Wouldn't like to be in COMS, BLNX or MOS at the moment. BLNX all over the place. Any word on SNAK or are you out ?

[treacle32] 04/2/2014 16:17

Thanks for the email too - price was below mid price before to buy hence shown as a sell on LSE etc....

[treacle32] 04/2/2014 16:17

Both big buys Candy...

[treacle32] 04/2/2014 16:16

Another good buy for 750,000 shares now at 1.34 pence.

Someone loading up today.

[agbad] 04/2/2014 16:07

Tell a lie, just received a reply:

Thank you for letting me know about the Oil Barrel website, I've contacted them and they will amend our details.

I'm afraid that due to prior commitments, the Azonto management team are unable to attend tomorrow, but they hope to attend/present later this year.

Please do let me know if you have any questions.

Kind Regards,

Jade Hockie

[agbad] 04/2/2014 16:01

Afternoon Treacle - Was thinking that was a buy. Showing up on LSE as a sell. I emailed Azonto this morning to flag up to them that they are still listed on the Oil Barrel website as Rialto and to ask are they sending someone to the OB conference tomorrow. No reply - maybe they're on route!

[treacle32] 04/2/2014 15:38

Nice 800,000 buy at 1.30p today - good size in weeks.

Price on the floor - can only go up now imo.

[treacle32] 03/2/2014 17:30

Oversold....

[treacle32] 03/2/2014 16:55

RSI way oversold now at around 10....still stay high on offer on Level 2.

[treacle32] 01/2/2014 22:35

They did say in the presentation this month a bit more cash was expected - was a few million Australian dollars I believe - can't remember precise amount.

It's what Rob said a while back too - Vitol haven't come in for bit of the resource - imo they'll be here to stay and 5 stand out drilling prospects from the 15 potential.

Yes we could get news on future gas sales agreement and maybe on new opportunities too.

Just wish they got rid of the ASX listing when they said dual listing was being reviewed.

This can climb heavily when newsflow starts as others have like MARL & SOLG from 1p to 8 pence etc. Momentum etc....

[agbad] 01/2/2014 12:58

Looks like it Treacle!

Still got a few on board on LSE. They reckon its a good long term play too. I agree with Foxx that funding and cash burn a bit iffy at the moment but the board have stumped up their own cash and they seem reasonably upbeat going forward this year. Still have faith and believe there should be news soon on agreed gas pricing with the Ivory Coast government. The FDP has been refined so hopefully that will satisfy the banks (with Vitol on board should sway it) then gas on shore next year!

Good luck, I'm off to the pub.

[treacle32] 31/1/2014 22:26

Just me and you bullish then Candy.

[gwr7] 31/1/2014 21:02

Not bitter foxx, got out for 80% profit as I'd done my research and knew the company inside out. They need some big finds to make the company worthwhile but as things stand they haven't the funds. Treacle supposedly did his research and some seemed to have followed him blind but he forgot to tell them when to sell. I wouldn't rule out buying back in at some stage but that may be a couple of years down the line.

[agbad] 31/1/2014 20:12

Foxx - you may be right but sucked in so will see it through. Might lose my shirt on this one by christmas but will hold anyway for the ride. Ever the optimist.

[foxx999] 31/1/2014 19:56

Agbad... To be honest, normally I hate posters like GWR and I... Two bitter ex-holders who lost a few quid and now hang around to talk the share down....However, I just think now the vitol deal is crystal clear it's a whole different ball game here. Clearly Rialto were going bust and Rob took the only deal on the table... Fair enough, cos it meant I got out before losing all...The vitol dosh is not for azonto to use for general corporate purposes, I'm sure it will have to be used for development...that means within a year azonto won't have any cash (even for their Oyster cards).The other thing..... Even if they found some cash to see them through.... Azonto don't have very much here beside that - 5mmbls......This is an absolute stinker now....

[agbad] 31/1/2014 16:43

Can't be a lie as they do have $50m from Vitol. For newbies - be aware Vitol have LOANED Azonto $50m but terms of the loan I assume are confidential. This is a speculative play. If you invest as they say you do so at your own risk. Shares can go down as well as up. Very much down in this case so far!

GWR7 are you happy now. I knew I should have went to the pub this afternoon. Too many people on these boards with chips on their shoulders.

[gwr7] 31/1/2014 16:20

Just putting newbies in the picture, unlike you.

AGBAD
31 Jan'14 - 14:23 - 125 of 127 0 0

"they have $50m from Vitol"

Blatant lie.

[agbad] 31/1/2014 16:15

Each to their own GWR7. I'm well aware of the situation with the $50m from Vitol. Can sit on this for the long term. Only one of many companies I've invested in. Perhaps you should concentrate on your own investment strategy or do you spend all your time in slagging other peoples choices. Ah well if you get pleasure in it ...

[gwr7] 31/1/2014 15:40

They haven't got $50m from Vitol. For a long time they seemed to pretend they had but then the truth came out. Vitol are paying the first $50m of development costs. As they own 65% of the block they'd have been paying $32.5m anyway. They're fronting Azonto, who I think are a busted flush, for $17.5m and get this back from Gazelle cash flow with interest. Gazelle is small after the very dissapointing appraisal campaign so I see a pittance for Azonto. They haven't enough cash for meaningful exploration. Your mate Rob struck a rotten deal IMO and if you didn't manage to work that out I can see why you're still invested.

[agbad] 31/1/2014 14:23

Yeah Foxx Azonto's cash will run out by year end but they have $50m from Vitol and interest from the banks to loan additional financing which if agreed would get the gas ashore within 18 months. From the RNS which is encouraging:

Planning for the Gazelle Field Development is now well advanced. This has included commencing discussions with a number of commercial banks who have expressed interest in providing debt finance to support the development of the project.

You would think the BOD would be buying in at this level as a show of faith. They already have splashed half a mil around the 2p mark. Anyway hold tight guys & gals, can't me much more downside from here.

[foxx999] 31/1/2014 07:58

Agbad, with this cash burn they'll be none left this time next year....

[agbad] 30/1/2014 22:55

News out tonight on ASX. Nothing we didn't already know, more a statement to try and reassure holders. Progress will be slow but future will be bright for shareholders that are patient. (I've no option down too much!) Quarterly statement also released. Cash reserves down 3.5m AUS$. There will be an analyst conference call starting soon in Sydney. Wonder how the stock will perform. ASX opens in 5 mins.

[treacle32] 30/1/2014 08:21

Some early buying - fallen too much & could turn.

[treacle32] 28/1/2014 23:20

Thanks Candy....

AZO is the same as all other juniors and many have had steep declines like AZO in the absence of news. But turning the other way round once newsflow begins we will have those waves of big rises but imo greater than previously witnessed to a high of 2.90 pence.